RYAN SPECIALTY HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
RYAN$47.20+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $40,677 | $36,457 |
| Adjustments to reconcile net income to cash flows used in operating activities: | ||
| (Income) from equity method investment in related party | (5,606) | (1,995) |
| Amortization | 27,988 | 25,185 |
| Depreciation | 2,080 | 2,192 |
| Prepaid and deferred compensation expense | 918 | 2,212 |
| Non-cash equity-based compensation | 17,310 | 17,879 |
| Amortization of deferred debt issuance costs | 3,409 | 3,039 |
| Amortization of interest rate cap premium | 1,739 | 1,739 |
| Deferred income tax expense | 2,139 | 2,875 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Commissions and fees receivable – net | (4,751) | (1,212) |
| Accrued interest liability | 5,958 | (4,743) |
| Other current and non-current assets | 2,061 | 11,197 |
| Other current and non-current accrued liabilities | (210,461) | (254,036) |
| Total cash flows used in operating activities | $(116,539) | $(159,211) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Business combinations – net of cash acquired and cash held in a fiduciary capacity | — | (102,059) |
| Capital expenditures | (7,628) | (2,793) |
| Total cash flows used in investing activities | $(7,628) | $(104,852) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repayment of term debt | — | (4,125) |
| Payment of contingent consideration | — | (4,477) |
| Tax distributions to non-controlling LLC Unitholders | — | (264) |
| Receipt of taxes related to net share settlement of equity awards | 130 | 404 |
| Taxes paid related to net share settlement of equity awards | (130) | (404) |
| Dividends paid to Class A common shareholders | (40,021) | — |
| Distributions to non-controlling LLC Unitholders | (5,617) | — |
| Payment of accrued return on Ryan Re preferred units | (1,883) | — |
| Net change in fiduciary liabilities | 37,326 | (20,754) |
| Total cash flows used in financing activities | $(10,195) | $(29,620) |
| Effect of changes in foreign exchange rates on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | (657) | 85 |
| NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY | $(135,019) | $(293,598) |
| CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY—Beginning balance | 1,756,332 | 1,767,385 |
| CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY—Ending balance | $1,621,313 | $1,473,787 |
| Reconciliation of cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | ||
| Cash and cash equivalents | 665,420 | 704,746 |
| Cash and cash equivalents held in a fiduciary capacity | 955,893 | 769,041 |
| Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | $1,621,313 | $1,473,787 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.